Saab and Damen Shipyards Group have partnered in pursuit of a Walrus-class submarine replacement program contract from the Netherlands.

The Swedish and Dutch companies said they also intend to jointly explore other submarine program opportunities around the world.

"We are convinced that with Saab we have found the ideal partner to realize a successor to the present Walrus class, a vessel that will set a new standard for non-nuclear submarines," said Hein van Ameijden, managing director of Damen Schelde Naval Shipbuilding. "The complementarity of both our companies opens up the potential for a successful cooperation in more submarine programs worldwide."

Walrus-class attack submarines of the Royal Netherlands Navy first came into service in the early 1990s. They are about 222 feet long, have a submerged speed of 20 knots and a range of nearly 11,500 miles when traveling at 9 knots.

The Netherland has four of the vessels in service. The Ministry of Defense announced last year that it intends to replace the ships.